Overview
Cover Genius is a global insurtech company and managing general agent specializing in embedded protection. Founded in 2014 by Angus McDonald and Chris Bayley, the company operates XCover, an award-winning global insurance distribution platform that enables the world's largest digital companies to embed seamless protection products directly into their customer journeys. Licensed or authorized in over 60 countries and all 50 US states, Cover Genius provides end-to-end insurance distribution including product design, pricing, underwriting, administration, claims assessment, processing, and disbursements.
The company achieved unicorn status in 2021 and has since grown to protect over 41 million customers globally, with nearly 120 million policies sold. In 2023, Cover Genius delivered 107% year-on-year growth and maintained an impressive 145% Net Revenue Retention. The platform serves partners across travel, e-commerce, fintech, logistics, mobility, live events, and the gig economy, with major global clients including Amazon, eBay, Wayfair, Booking Holdings, Priceline, Ryanair, Turkish Airlines, Uber, and Shopee.
Cover Genius operates as an intermediary and MGA that works with underwriting partners (insurance carriers) to provide capacity, while focusing its own capabilities on technology-driven distribution, product design, and AI-powered claims management through its suite of platforms. The company also maintains a global captive insurance entity, Asservo, for certain risk-bearing purposes.
Products & Services
XCover
Global insurance distribution platform for embedded protection. Built for the world's largest digital platforms, XCover enables merchant partners to offer personalized, seamless protection experiences across the entire customer journey.
Key Features
- Multi-line insurance and non-insurance protection products
- Personalized protection in any country, language, and currency
- Dynamically bundled policies from any category and underwriter
- Single API integration for global capabilities
Target Users: Digital platforms, e-commerce, travel, fintech, logistics, mobility, and ticketing companies
Distribution: API-first, embedded directly into partner platforms
RentalCover
The worldwide number-one distribution platform for rental car protection, offering comprehensive coverage for vehicle rentals globally.
Key Features
- Rental vehicle damage protection
- Excess reduction coverage
- Global availability across major rental markets
Target Users: Car rental platforms, travel companies, consumers
Distribution: Embedded in rental booking platforms
XClaim
API-powered claims microservice that enables instant payment of approved claims in 90+ currencies, delivering an independently-recognized post-claims NPS of +65, the highest for any insurance company globally.
Key Features
- Instant claims assessment and processing
- Automatic payouts in 90+ currencies
- AI-powered claims handling
- Industry-leading customer satisfaction (NPS +65)
Target Users: All XCover and RentalCover partners and their customers
Distribution: Integrated into XCover platform
BrightWrite
Real-time price optimization and product recommendations engine that uses AI-based pricing to optimize protection offerings for partners.
Key Features
- Real-time price optimization
- AI-driven product recommendations
- Data analytics for protection offerings
Target Users: XCover partners seeking revenue optimization
Distribution: Integrated into XCover platform
Cancel For Any Reason (CFAR)
Fair refund protection allowing customers to cancel purchases for any reason and receive a refund.
Key Features
- Flexible cancellation coverage
- Fair refund terms
- Seamless integration with booking flows
Target Users: Travel, e-commerce, and event ticketing platforms
Distribution: Embedded at point of sale
Delay Valet
Instant payouts for travelers experiencing flight or travel delays without the need to file traditional claims.
Key Features
- Automatic delay detection
- Instant payout upon qualifying delay
- No claims filing required
Target Users: Airlines, travel platforms, travel agencies
Distribution: Embedded in travel booking platforms
Gig Cover
Protection solutions designed specifically for gig economy riders and contractors.
Key Features
- Coverage tailored for gig workers
- Accident and injury protection
- Flexible, on-demand coverage
Target Users: Gig economy platforms, ride-sharing services
Distribution: Embedded in gig economy platforms
Total Shipping Protection
Frictionless coverage for package shipments, protecting against loss, damage, and theft during transit.
Key Features
- Coverage for lost, damaged, or stolen packages
- Frictionless claims experience
- Integration with major shipping platforms
Target Users: E-commerce merchants, logistics platforms, shipping providers
Distribution: Embedded at checkout and in shipping management tools
At a Glance
- Founded
- 2014
- Headquarters
- New York, NY, USA
- Employees
- 501-1000
Category & Focus
Links
Last updated: 2026-03-25